Why is Jagatjit Inds. falling/rising?

As of 19-Sep, Jagatjit Industries Ltd is experiencing a decline in its stock price, currently at 225.00, which reflects a decrease of 14.0 or 5.86%. Today's price summary indicates that the stock has underperformed its sector by 6.04% and has fallen after two consecutive days of gains. The stock touched an intraday low of Rs 220.1, marking a significant drop of 7.91%. Over the past week, the stock has shown a return of +8.70%, but it has underperformed in the longer term, with a year-to-date return of -6.25% and a one-year return of -21.88%. The company's financial health is concerning, as it has reported negative results for the last six consecutive quarters, with net sales falling by 26.5% and a negative EBITDA, indicating weak long-term fundamental strength.
Broader market context shows that while the Sensex has generated a return of +0.88% over the past week, Jagatjit Industries has significantly lagged behind, highlighting its struggles in the market. Despite a strong performance over the last three and five years, the company's high debt levels, with a debt-to-equity ratio of 7.5 times, and low profitability, reflected in a return on equity of only 4.19%, contribute to investor caution. The limited interest from domestic mutual funds, holding only 0.11% of the company, further suggests a lack of confidence in its future prospects. Overall, the combination of poor financial performance, high debt, and underwhelming market returns has led to the stock's current decline.